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49ers to potentially strike deal for new 'Levi's Stadium'

The 49ers are moving closer to a mega-deal with San Francisco-based Levi Strauss & Co., makers of the popular jeans, who plan to present a proposal on Thursday to the Santa Clara Stadium Authority for the naming rights to a new $1.2 billion stadium.

The 1.85 million-square-foot venue, scheduled to open July 2014, would be called "Levi's Stadium" and seat approximately 68,500. The $220 million deal would be for 20-years and would also make the company the official sponsor of the team, giving Levi's "premium interior and exterior branding" rights of the new stadium, according to a report Wednesday in the Fort Mill Times.

Niners CEO Jed York said he is "honored" by the deal and considered Levi's the "perfect partner" for the team, according to the report:

"The 49ers have worn Levi's jeans since the Gold Rush era. We are so honored to have the perfect partner for the premier outdoor sports and entertainment venue in the world. A model of innovation and sustainability, Levi's Stadium will bring to life all that is special about the Bay Area."